Larry just completed signing all the documents and transferring stocks and bonds worth $400,000 in trust to Martin. The irrevocable trust terms require the income to be accumulated or distributed to John and Jane in such portion as Martin thinks reasonable. When both John and Jane are deceased the trust is to terminate and the assets distributed to Wally. Which of the following are true statements regarding Martin? (1)He is the trustee. (2)He holds a limited power to appoint income. (3)He holds a fiduciary position. (4)He holds legal title to the trust assets.

All are correct.

(2) and (4) only are correct.

(4) only is correct.

(1), (2), and (3) only are correct.

(1) and (3) only are correct.